The Russian government has approved the sale of Ikea’s factories in Russia to two Russian companies, Slotex and Luzales, after the multinational decided to leave the country due to the war in Ukraine, the Russian press reported this Thursday.
A Russian government commission authorized the purchase on Wednesday, but did not name the amount Slotex and Luzales would have to pay to acquire the Swedish furniture company’s factories in Russia, according to the Interfax news agency.
Ikea, which suspended sales in Russia in early March due to the war in Ukraine, announced in June that it wants to sell its four factories in Russia, cut employees and eliminate its work, and liquidate its inventory. ‘.
The Scandinavian company, which guaranteed employees’ salaries for six months, stressed that its two logistics offices in Moscow and Minsk, Belarus, would be closed.
In November, Ingka Group, the company that accounts for 90% of Ikea’s sales, reported that in the latest financial year (September-August) it made a net profit of 287 million euros, which is 82% less than in the same period. 2021. .
The drop in results was mainly due to the “significant” impact of interest rates on the group’s Financial Markets division, as well as the impact of the closure of operations in Russia due to the war in Ukraine.